Latest Newsletter Edition

Upcoming Tax Deadlines

July

Day
12 Employees Who Work for Tips – If you received $20 or more in tips during June, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use Form 4070.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in June.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in June.

Return to Top

August

Day
02 Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2021 but less than $2,500 for the second quarter.
02 Employers – Deposit the tax owed through June if more than $500.
02 Employers – If you maintain an employee benefit plan, such as a pension, profit-sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2020. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
02 Employers – Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2021. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until August 10 to file the return.
10 Employees Who Work for Tips – If you received $20 or more in tips during July, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use Form 4070.
10 Employers – Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2021. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
16 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in July.
16 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in July.

Return to Top

September

Day
10 Employees Who Work for Tips – If you received $20 or more in tips during August, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use Form 4070.
15 Corporations – Deposit the third installment of estimated income tax for 2021. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in August.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in August.
15 Individuals – Make a payment of your 2021 estimated tax if you’re not paying your income tax for the year through withholding (or won\’t pay in enough tax that way). This is the third installment date for estimated tax in 2021. You may be able to avoid having to pay estimated taxes by increasing your tax withholding. Penalties may be assessed if you do not pay enough tax through withholding and estimated tax payments or if your payments are late.
15 Partnerships – File a 2020 calendar year return (Form 1065). This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see Partnerships under March 15, earlier. Provide each partner with a copy of their final or amended Schedule K-1 (Form 1065) or substitute Schedule K-1 (Form 1065).
15 S Corporations – File a 2020 calendar year income tax return (Form 1120-S) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension of time to file the return. Otherwise, see S corporations under March 15, earlier. Provide each shareholder with a copy of their final or amended Schedule K-1 (Form 1120-S) or substitute Schedule K-1 (Form 1120-S).

Return to Top

October

Day
12 Employees Who Work for Tips – If you received $20 or more in tips during September, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return. You can use Form 4070.
15 Corporations – File a 2020 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see Corporations under April 15, earlier.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in September.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in September.
15 Individuals – If you have an automatic 6-month extension to file your income tax return for 2020, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due.

Return to Top

Schedule an appointment:

(302) 310-3719

bbhattcpa@gmail.com